If changes in inflation are higher than expected,
A) the long-run Phillips curve will be negatively sloped.
B) the short-run Phillips curve will be positively sloped, but not vertical.
C) the short-run Phillips curve will be vertical.
D) the short-run Phillips curve will be negatively sloped.
D
Economics
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The nominal interest rate is determined in the
A) bond market. B) stock market. C) exchange market. D) money market.
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Unlike implicit costs, explicit costs
a. reflect opportunity costs b. include the value of the owner's time c. are not included in a firm's accounting statements d. are actual cash payments e. do not change as a firm's output changes
Economics